Canvas Wealth Advisors LLC Acquires 122 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Canvas Wealth Advisors LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,183 shares of the company’s stock after buying an additional 122 shares during the period. Canvas Wealth Advisors LLC’s holdings in PepsiCo were worth $335,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stiles Financial Services Inc raised its stake in shares of PepsiCo by 4.3% during the 4th quarter. Stiles Financial Services Inc now owns 11,583 shares of the company’s stock worth $1,761,000 after purchasing an additional 479 shares in the last quarter. Tevis Investment Management raised its position in PepsiCo by 9.4% during the fourth quarter. Tevis Investment Management now owns 7,669 shares of the company’s stock worth $1,166,000 after acquiring an additional 661 shares in the last quarter. Compass Financial Services Inc acquired a new stake in PepsiCo in the fourth quarter valued at $47,000. Newbridge Financial Services Group Inc. acquired a new position in shares of PepsiCo during the 4th quarter worth about $384,000. Finally, Kestra Private Wealth Services LLC raised its holdings in shares of PepsiCo by 8.6% in the 4th quarter. Kestra Private Wealth Services LLC now owns 110,581 shares of the company’s stock valued at $16,815,000 after purchasing an additional 8,731 shares during the period. 73.07% of the stock is owned by institutional investors.

PepsiCo Trading Down 0.5 %

PEP opened at $144.58 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The stock has a market capitalization of $198.29 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 2.89 and a beta of 0.54. The company has a 50-day simple moving average of $151.42 and a 200 day simple moving average of $164.09.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the business posted $1.78 EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis. Analysts predict that PepsiCo, Inc. will post 8.34 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.75%. PepsiCo’s dividend payout ratio is currently 77.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PEP. HSBC lowered their price target on PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a report on Friday. TD Cowen decreased their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Citigroup cut their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $171.47.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.